Gold

[mistymountain]

Right now? down, but let's look at it later this week, haste has no purpose with Gold. imo.

So given the extreme Volatility over the last few weeks ( and recent days) I thought I'd do some digging... (scuse unintended pun...)

This article is really well written and covers the macro. https://www.bullionstar.com/blogs/ro...in-volatility/

Buckle in for the Ride.

[Daytr]

So given the extreme Volatility over the last few weeks ( and recent days) I thought I'd do some digging... (scuse unintended pun...)

This article is really well written and covers the macro. https://www.bullionstar.com/blogs/ro...in-volatility/

Buckle in for the Ride.

Thanks Misty.
Yeah it's pretty obvious to me a hedge fund had a crack at gold in hours of poor liquidity & like the article says, probably also drove it down by selling out.

I remember the same thing happened in the oil market a few years ago & its happened in the NZD as well.

Imo there should be limitations on volume when there is virtually no liquidity,

[Daytr]

Gold has rebounded nicely after its spike & sell off. Not far off the highs & I expect as the US cuts rates throughout 2024 gold should do well.
Could be a great year for gold stocks.

[JBmurc]

Gold has rebounded nicely after its spike & sell off. Not far off the highs & I expect as the US cuts rates throughout 2024 gold should do well.
Could be a great year for gold stocks.

Been a Good month my largest holding GAU:TSX touched 50% up so far for DEC purchase!!! $50,000 not a bad gain for the month

[Daytr]

Been a Good month my largest holding GAU:TSX touched 50% up so far for DEC purchase!!! $50,000 not a bad gain for the month

Nicely played JB

[Daytr]

And thanks JB for bringing platinum back on my radar. That's been a great trade. Out now. Will reassess in the NY

[JBmurc]

And thanks JB for bringing platinum back on my radar. That's been a great trade. Out now. Will reassess in the NY

Should have taken the trade myself .. some dumb reason I find it harder to control my emotion playing with CFDs and always just over trade and take very short term gains than just putting the trade on that I know is a good one and just leaving it to play out with a stop-loss in place ... GOLD low 1900 levels Platinum 880's Palladium 900's .. all no brainer trades IMHO at the time

at present one trade I'd look to take on a leave to play out would be if Wti Crude oil would dip to say 67-68bbl level to go long ..pretty safe to see bounce from these levels...

I do think the PGMs could grow a leg as well

[Nor]

A question for the knowledgeable or those who like to get the bit between their teeth and run with it, if that is not a mixed metaphor, or even a metaphor, though it does have like in it but that's for similes. Anyway is the long term driver of the gold price in NZ dollars more likely to be the US dollar price (increasing), as I tend to assume, or the NZ dollar decreasing in value wrt the US dollar?
Thanks in advance.
Nor.

And the answer is, I believe, the increase in US dollar price of gold.

[mistymountain]

I'll second that.

The next question is:

Is the increasing POG in USD the start of a multi year uptrend? eg 1970s or 2009 - 2011...

As I type POG gone thru USD$2300...

https://tradingeconomics.com/commodity/gold

Cheers

[Nor]

I'll second that.

The next question is:

Is the increasing POG in USD the start of a multi year uptrend? eg 1970s or 2009 - 2011...

As I type POG gone thru USD$2300...

https://tradingeconomics.com/commodity/gold

Cheers

A difficult question. I can only ever see two possibilities as being equally likely unless the mathematics of the situation, or one's grasp of reality, point strongly to one or the other.
In this case perhaps both point to yes.